Google's Cloud Revenue Misses Expectations, Shares Fall Despite Strong Overall Earnings
TL;DR Summary
Google parent Alphabet reported Q3 earnings that beat estimates, but its cloud-computing sales growth fell short, leading to a drop in Google stock. Google's cloud revenue rose 22% to $8.41 billion, missing estimates of $8.64 billion, and analysts suggest that Google may have lost market share to Microsoft Azure. Despite this, Google's advertising revenue and YouTube ad revenue showed growth. The company also repurchased $15.78 billion of its own stock.
- GOOGL Stock: Google Earnings Beat, Shares Fall As Cloud Computing Growth Misses Investor's Business Daily
- Google: Alphabet Q3 earnings tops expectations, analyst says cloud revenue 'a slight yellow flag': Yahoo Finance
- Alphabet shares drop as cloud miss overshadows better-than-expected overall results CNBC
- Google is actively looking to insert different types of ads in its generative AI search TechCrunch
- Google's Cloud Sales Disappoint as Advertising Rebounds The Wall Street Journal
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